Watertown Savings Bank in Watertown, New York (NY)

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Watertown Savings Bank
GeneralFDIC Certificate #: 15990
Status: Active
Federal Reserve ID: 298218
Date Established: January 01, 1894
WWW: http://www.watertownsavingsbank.com
Trust Powers Granted: No
Bank Charter Class: Savings banks, state charter, supervised by the FDIC
Offices: 10 (Domestic: 10, Interstate: No)
FDIC's unique #: 10221
Numeric code: 42
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
FDIC Insured: Yes
Insured Savings Institution: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: July 01, 1943
Last Structure Change Effective Date: July 31, 2010
Last Structure Change Process Date: September 29, 2010
Last Data Update: September 29, 2010
Data Source Date: April 05, 2012
LocationAddress: 111 Clinton Street, Watertown, NY 13601
County: Jefferson
Quarterly Banking Profile Region: New York
FDIC Geographic Region: New York
FDIC Supervisory Region: New York
FDIC Field Office: Syracuse
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Northeast
Core Based Statistical Area (CBSA): Watertown-Fort Drum, NY (#48060)
CBSA Micro Statistical Area: Yes
Financial SummaryTotal assets: $453.9 mil
Equity capital: $61.0 mil
Deposits held in domestic offices: $389.7 mil
Return on assets (ROA): 0.87% ($3.9 mil)
Quarterly return on assets: 0.70% ($3.2 mil)
Return on Equity (ROE): 6.59% ($4.0 mil)
Quarterly return on equity: 5.25% ($3.2 mil)
Net income: $3.9 mil
Quarterly Net income: $0.8 mil
Pretax return on assets: 1.26% ($5,719.2 mil)
Quarterly Pretax return on assets: 1.04% ($4,720.6 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)106
Total assets$453,902
Cash and due from depository institutions$42,240
Interest-bearing balances$30,429
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$254,250
Loan loss allowance $2,580
Trading account assets$0
Bank premises and fixed assets$17,505
Other real estate owned$470
Goodwill and other intangibles$13,302
All other assets$22,590
Life insurance assets$453,902
Total liabilities and capital$392,875
Total liabilities$389,675
Total deposits$284,231
Interest-bearing deposits$389,675
Deposits held in domestic offices$93
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $3,200
All other liabilities $61,027
Total equity capital$61,027
Total bank equity capital$61,027
Perpetual preferred stock$0
Common stock$0
Undivided profits $52,523
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $11,392
Earning assets $186
Long-term assets (5+ years) $1,408
Average Assets, year-to-date $388,224
Average Assets, quarterly $137,780
Volatile liabilities $445,047
Insider loans $453,309
FHLB advances $372,961
Loans and leases held for sale $434,426
Unused loan commitments $12,351
Tier 1 (core) risk-based capital $10,976
Tier 2 risk-based capital $47,686
Total risk weighted assets $0
Total unused commitments $1,375
Restructured Loans and leases $48,988
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $16,493
Total interest expense $2,098
Net interest income $14,395
Provision for loan and lease losses $735
Total noninterest income $4,172
Fiduciary activities $0
Service charges on deposit accounts $1,612
Trading account gains & fees $0
Additional noninterest income $2,560
Total noninterest expense $12,074
Salaries and employee benefits $6,517
Premises and equipment expense $1,216
Additional noninterest expense $4,341
Pre-tax net operating income $5,758
Securities gains (losses) -$132
Applicable income taxes $1,755
Income before extraordinary items $3,871
Extraordinary gains - net $0
Net income attributable to bank $3,871
Net charge-offs $0
Cash dividends $3,871
Sale, conversion, retirement of capital stock, net $137
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.34%
Cost of funding earning assets 0.55%
Net interest margin 3.79%
Noninterest income to earning assets 1.10%
Noninterest expense to earning assets 3.18%
Net operating income to assets 0.89%
Return on assets (ROA) 0.87%
Pretax return on assets 1.26%
Return on equity (ROE) 6.59%
Retained earnings to average equity (YTD only) 6.59%
Net charge-offs to loans 0.06%
Credit loss provision to net charge-offs 536.50%
Efficiency ratio47.39%
Assets per employee$64,087
Cash dividends to net income (YTD only)4.28%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.00%
Noncurrent assets plus other real estate owned to assets 22.65%
Noncurrent loans to loans 2.61%
Net loans and leases to deposits4.44%
Net loans and leases to core deposits 65.25%
Equity capital to assets 67.50%
Core capital (leverage) ratio 13.44%
Tier 1 risk-based capital ratio 10.98%
Total risk-based capital ratio 12.79%
Average assets$13
Average earning assets$445,047
Average equity $58,720
Average loans $379,882
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10 New York Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
010221Watertown Savings Bank111 Clinton Street, Watertown, NY 13601January 01, 1894Full Service Brick and Mortar
1236404State Street Branch1816 State Street, Watertown, NY 13601November 04, 1963Full Service Brick and Mortar
2236405Adams Branch10729 Us Route 11, Adams, NY 13605November 07, 1966Full Service Brick and Mortar
3236406Watertown Branch101 Commerce Park Dr, Watertown, NY 13601December 04, 1989Full Service Brick and Mortar
5236408Clinton Street Branch140 Clinton Street, Watertown, NY 13601September 04, 1996Limited Service Facility
6236409Sackets Harbor Branch100 West Main Street, Sackets Harbor, NY 13685December 14, 1998Full Service Brick and Mortar
7467790Chaumont Branch12221 Nys Route 12e, Chaumont, NY 13622August 01, 2007Full Service Brick and Mortar
9214929Alexandria Bay Branch4 Market Street, Alexandria Bay, NY 13607April 06, 1998Full Service Brick and Mortar
10453561Clayton James St Branch352 James Street, Clayton, NY 13624September 19, 2005Full Service Brick and Mortar
11480762Wsb Municipal Bank Branch111 Clinton Street, Watertown, NY 13601June 30, 2008Limited Service Administrative
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